Russell Crowe is reportedly selling his stake in the South Sydney Rabbitohs rugby league club.
Weidler said he had conversed with Crowe over email and text and that the actor had confirmed he will be selling his stake.
"From what I can understand, Russell is just trying to simplify his life. As you know, he has been through a lot recently in his personal life, and I would say that is ... a part of his reasoning" Weidler told 2UE's Weekend Breakfast Show.
According to Weidler, Crowe is confident that South Sydney are in good shape and he feels that his job is done.
"They are one of the sexiest clubs in rugby league. People like to play for South Sydney. They have got an image about them."
"That's due to Russell Crowe."
Weidler went on to say that he estimated Crowe and Peter Holmes à Court had invested around $11 million since they took over the club in 2006.
The Rabbitohs finished the 2012 season in third place on the ladder and narrowly missed out on playing in the grand final, losing to the Canterbury Bulldogs in the preliminary final.
It was only the Rabbitohs' second appearance in the finals series since 1989.